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Goldman Sachs Group Inc | ML Depositor PPLUS Trust Floating Rate Goldman Sachs Cap I Certificates GSC-2 (PYT)
Prospectus excerpt: Merrill Lynch Depositor Inc., PPLUS Class A, Floating Rate Trust Certificates, PPLUS Trust Series GSC-2, stated amount $25 per certificate, underlying securities are the 6.345% Capital Securities due 2/15/2034, issued by Goldman Sachs Capital I, a subsidiary of Goldman Sachs Group Inc. (NYSE: GS), redeemable on or after 8/15/2009 under the call warrants at $25 plus accrued and unpaid interest. The certificates pay an initial interest rate of 3.00% ($0.75) per annum distributions quarterly on 2/15, 5/15, 8/15 & 11/15 to holders of record on the day immediately preceding the payment date (NOTE: the ex-dividend date is one business day prior to the record date). The floating interest rate will be equal to the three-Month USD LIBOR plus 0.85% and will be equal to or greater than 3.00% but not greater than 8.00%. The company has the right, at any time, to defer dividend payments for up to 10 consecutive semi-annual periods (but not beyond the maturity date). Ratings of the certificates at the IPO are A- by S&P and are not rated by Moody’s. Full Prospectus PDF », Secondary Prospectus PDF », GS Page »
| Redeemable?: | Yes | | Call Date: | 8/15/2009 (Now Trading Post Call Date) | | Maturity Date: | 2/15/2034 | | Cumulative?: | Yes | | Shares Offered: | 1,400,000 | | Liquidation Preference: | $25.00 | | Recent Market Price: | $22.90 | Discount to Liquidation Preference:
(More Preferreds Trading at a Discount ») | $-2.10 (-8.40%) | | Annualized Dividend: | 1.6588 | | Recent Ex-Date: | 2/14/2024 | | Current Yield: | 7.24% | | Original Coupon: | Variable Float Rate | | Pay Period: | Quarterly | | Pay Dates: | 15-Feb, 15-May, 15-Aug, 15-Nov | | CDx3 Compliance Rating: |
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Goldman Sachs Group is a bank holding company and financial holding company. Co. operates in four business segments: Investment Banking, which is engaged in financial advisory, underwriting and corporate lending activities; Global Markets, which consists of Fixed Income, Currency and Commodities and Equities, and engaged in intermediation and financing activities; Asset Management, which is engaged in the management, equity investments, lending and debt investments; and Consumer and Wealth Management, which consists of Wealth management and Consumer banking, and engaged in the management and other fees, incentive fees, private banking and lending, and consumer-oriented activities. Preferreds: JBK, PYT, GS.PRA, GS.PRB, GS.PRC, GS.PRD, GS.PRI, GS.PRJ, GS.PRK, GS.PRN
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